SunEdison unit inks 200-MW solar PPA in Bangladesh

Solar panels. Featured Image: pornvit_v/Shutterstock.com

January 10 (SeeNews) - SunEdison (OTCMKTS:SUNEQ) and the Bangladesh Power Development Board (BPDB) on Monday signed a 20-year power purchase agreement (PPA) for 200 MW of fresh solar capacity, local media reported.

The bankrupt US renewables developer won the contract through its unit Southern Solar Power Ltd, which is wholly-owned by SunEdison Energy Holding (Singapore) Pte Ltd. The PPA, awarded under the Speedy Supply of Power and Energy (Special Provisions) Act 2010, calls for BPDB to pay BDT 13.26 (USD 0.17/EUR 0.16) per kWh on a “no electricity, no payment” basis.

As part of the deal, SunEdison will put the photovoltaic (PV) complex at Teknaf in Cox’s Bazar into operation in 2018. The firm will work on the scheme in line with the build-own-and-operate model.

Bangladesh aims to source 2,000 MW, or 10% of its electricity, from renewables by 2020. So far, the government has reportedly approved several grid-connected PV schemes with a combined capacity of 300 MW.